INSURANCE NEWS
Hurricanes Getting Costlier and Wetter, Triple I Report Finds
U.S. population growth in hurricane-prone states, coupled with the increasingly heavy rainfall which accompany these storms, has generated costlier insurance claim payouts for wind and flood-caused property damage, according to the Insurance Information Institute. “While wind speeds and storm surge …
Travelers’ Q2 Profit Plummets on Historic-Level Catastrophe Losses
Travelers Companies Inc. on Thursday reported a 98% fall in quarterly profit, as severe wind and hailstorms in parts of the United States pushed up its catastrophe losses. Core income of the New York-based company, often seen as a bellwether …
Employees Are Losing Sleep Over Rookie Managers: Research
New managers can be the stuff of office workers’ nightmares. That’s according to new research by digital learning system Oji Life Lab, which found that one in five employees lost sleep over a newly minted manager with inadequate leadership skills. …
AT&T Does Not Intend to Immediately Remove Lead Cables From Lake Tahoe
AT&T said on Tuesday it does not intend to immediately remove lead cables from Lake Tahoe pending further analysis, according to its court filing. Shares of AT&T this week hit their lowest level in 30 years, after analysts downgraded the …
UN Could Start Removing Oil This Week From Decaying Yemen Tanker
An operation to start removing some 1.1 million barrels of oil from a decaying tanker moored off Yemen’s coast could start by the end of the week, the United Nations said on Tuesday. U.N. officials have been warning for years …
Ukraine Setting Up Temporary Shipping Route After Russia Grain Deal Exit: Official Letter
Ukraine is setting up a temporary shipping route to maintain grain shipments after Russia quit a deal allowing Ukrainian exports via a UN-backed safe corridor in the Black Sea, Kyiv said on Wednesday. Russia attacked Ukraine’s Black Sea Odesa port …
Russia Issues Warning to Any Ships Traveling to Ukraine’s Black Sea Ports
Russia warned that from Thursday any ships traveling to Ukraine’s Black Sea ports will be seen as possibly carrying military cargoes after Ukraine said it was setting up a temporary shipping route to try and continue its grain exports. The …
Cybersecurity Labeling for Smart Devices Aims to Hacking Vulnerabilities for Consumers
The Biden administration and major consumer technology players on Tuesday launched an effort to put a nationwide cybersecurity certification and labeling program in place to help consumers choose smart devices that are less vulnerable to hacking. Officials likened the new …
Gas Leak From Bad Fitting Cited in Chocolate Factory Explosion Where 7 Died
Natural gas leaked from a defective fitting at a Pennsylvania chocolate factory where a powerful explosion leveled one building, heavily damaged another and killed seven people, federal safety investigators said Tuesday, while noting they have yet to determine the cause …
Failure of Doubler-Plated Hull Likely Caused Sinking of Gloucester Fishing Vessel
The failure of the doubler-plated hull under the engine room likely caused the flooding and sinking of a fishing vessel near Gloucester, Massachusetts last year, according to an investigative report from the National Transportation Safety Board. The fishing vessel Grace …
People Moves: Talage in Neada Names Fuher CEO; Kiefer Transitions to Founder
Talage Inc., headquartered in Reno, Nev., appointed Craig Fuher as its new CEO. Fuher is also a founder at Affective Business Intelligence Corp. Company co-founder Adam Kiefer will transition to the newly created founder and executive chairman role. Kiefer co-founded …
Containment of Massive Southern California Wildfire Grows
Fire crews built containment lines and patrolled for hot spots throughout the day on Wednesday to continue to keep a massive Southern California wildfire from growing. Containment on the Rabbit Fire grew to 55% with extreme heat and low humidity …